Level 7 Diploma In
Strategic Management (Finance) Online Course | Tutor is available to students Qualification listed on OfQual website
+44-7520647455 | +44-(0)-203-608-0144 admissions@lsib.co.uk Live chat, visit : www.LSIB.co.uk UK Provider Reference Number (UKPRN) : 10062390
Contents Entry Requirements........................................................................................................................................................03 Strategic Planning ..........................................................................................................................................................05 Finance for Strategic Managers .....................................................................................................................................08 Research for Strategic Development..............................................................................................................................11 Organisational Behaviour ..............................................................................................................................................15 Personal Development for Leadership and Strategic Management..............................................................................18 International Business Environment..............................................................................................................................21 Developing Organisational Vision and Strategic Direction............................................................................................24 International Finance....................................................................................................................................................27 Quantitative Methods...................................................................................................................................................31
Credits
Delivery mode
Awarding body
120
Online
ATHE,UK
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Entry Requirements This qualification is designed for learners who are typically aged 16 and above. The policy regarding access to our qualifications is that: they should be available to everyone who is capable of reaching the required standard they should be free from any barriers that restrict access and progression there should be equal opportunities for all those wishing to access the qualifications
Progression On successful completion of a Level 3 Diploma in Business there are a number of progression opportunities. Learners may progress to: a level 4 qualification such as the Level 4 Extended Diploma in Management a degree programme
Level 7 Diploma in Strategic Management (finance) The Level 7 Diploma in Strategic Management (finance) is a 120 credit qualification. Learners must complete the five mandatory units totalling 85 credits plus a further three or four units from the list of optional units to achieve a minimum of 120 credits. Unit Title
Level
Credit
GLH
Strategic Planning
7
15
60
Finance for Strategic Managers
7
15
60
Research for Strategic Development
7
15
60
Organisational Behaviour
7
15
60
Personal Development for Leadership and Strategic Management
7
15
60
International Business Environment
7
15
60
Developing Organisational Vision and Strategic Direction
7
15
60
International Finance
7
15
60
Quantitative Methods
7
15
60
Optional Units
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Unit Specifications Unit Format Each unit is presented in a standard format. This format provides guidance on the requirements of the unit for learners, tutors, assessors and external verifiers. Each unit has the following sections: Unit Title The unit title reflects the content of the unit. The title of each unit completed will appear on a learner’s statement of results. Unit Aims The unit aims section summarises the content of the unit. Unit Code Each unit is assigned a unit code that will appear on the qualification certificate Level All units and qualifications have a level assigned to them which represents the level of achievement. The level of each unit is informed by the level descriptors. The level descriptors are available on the ATHE website. Guided Learning Hours (GLH) Guided learning hours is an estimate of the amount of time, on average, that a tutor, trainer, workshop facilitator etc., will work with a learner, to enable the learner to complete the learning outcomes of a unit to the appropriate standard. Total Qualification Time (TQT) TQT represents the total time required for a learner to complete a qualification. Credit Value The credit value specifies the number of credits that will be awarded to a learner who has achieved the learning outcomes of a unit at the specified standard. Learning Outcomes The learning outcomes set out what a learner is expected to know, understand or be able to do as the result of the learning process. Assessment Criteria The assessment criteria describe the requirements a learner is expected to meet in order to demonstrate that the learning outcome has been achieved. Command verbs reflect the level of the qualification e.g. at level 6 you would see words such as analyse, evaluate, synthesise.
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Strategic Planning Unit aims Unit aims Unit level Unit code GLH Credit value Unit grading structure Assessment guidance
Learning outcomes. The learner will: 1. Understand the foundations for developing organisational strategy
2. Understand the external environment affecting organisations
3. Be able to review an organisation’s strategy and business plans
The aim of this unit is to develop the knowledge, understanding and skills necessary to develop an organisational strategic plan The aim of this unit is to develop the knowledge, understanding and skills necessary to develop an organisational strategic plan 7 M/615/2675 60 15 Pass/Merit/Distinction To achieve this unit, learners must achieve the learning outcomes and meet the standards specified by the assessment criteria for the unit. Additional assessment guidance is provided on the ATHE sample assignment brief. This unit cannot be approached from a theoretical perspective with information gathered solely from public sources. In order to achieve the Learning Outcomes for the unit, the learner work must relate their work to a specific organisation. This must be an organisation the learner knows well and ideally it should be an SME. Learners will require guidance in selecting a suitable organisation. Assessment criteria. The learner can: Pass Merit Distinction 1.1 Explain the 1M1 Evaluate the relationship between impact of a named mission, vision, organisation’s vision strategy and business and mission on its plans strategy 1.2 Analyse named organisations’ mission and vision statements 2.1 Explain how external 2D1 Analyse how factors affect external influences organisations affect organisational 2.2 Evaluate how strategy in a named stakeholder organisation expectations influence organisations 2.3 Explain how changes in the external environment affect organisational strategy 3.1 Explain the 3M1 Review the 3D1 Analyse the importance of review position of an competitive strengths in the development of organisation in its and weaknesses of organisational current market using an organisation’s strategy and business appropriate tools current business plans strategy and 3.2 Evaluate the tools business plans which can be used to review organisational
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4. Be able to develop strategy options for an organisation
4.1
4.2
5. Understand how to create a strategic plan to meet business objectives
5.1
5.2
5.3
strategy and business plans Use modelling tools to develop strategy options for an organisation Develop criteria for reviewing the potential strategy options Explain the structure of a plan needed to deliver a strategy Explain how stakeholders are involved in the formulation of the plan Produce a dissemination process to ensure stakeholders are informed and committed to the plan
4M1 Apply the criteria and evaluate the options as the basis for delivering the strategic direction of the organisation 5M1 Create monitoring systems to ensure the successful implementation of a strategic plan
5D1 Construct a strategic plan for a named organisation
Indicative Content 1. Understand the foundations for developing organisational strategy
Explanations of organisational vision, mission, strategy and business plans; the differences and the interface between them Core organisational values e.g. ethical, environmental, client centred; cultural diversity; drivers e.g. business growth; profit; market share; workforce expectation Objectives and measures: SMARTER (specific, measurable, achievable, realistic, timebased, evaluate, re-evaluate) objectives; stakeholder involvement
2. Understand the external environment affecting organisations
External factors: needs and expectations of stakeholders e.g. customer groups, shareholders, suppliers and sub-contractors, the workforce and the community The success and direction of competitors and changes in the market sector as a whole in the short and long term e.g. product design; political changes and developments; legal changes; trends and expectations; exchange rates; trading agreements Use of external surveys and statistics; customer analysis and feedback; use of tools e.g. SWOT (strengths, weaknesses, opportunities, threats) analysis, STEEP (social, technological, economic, environmental and political) analysis; market research including primary and secondary information; feasibility
3. Be able to review an organisation’s strategy and business plans
The purpose of review and what this will entail; tools e.g. Value Chain analysis, SWOT analysis, Porter’s Five Forces; internal surveys and statistics Market position; market share analysis; life cycle analysis; Boston growth share BCG Matrix
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SWOT analysis, resource analysis, competitive analysis, skills and competencies audit, benchmarking sustainable competitive advantage; pricing strategies; resource analysis; economies of scale and scope for this; market equilibrium
4. Be able to develop strategy options for an organization Strategic planning options:
Ansoff Matrix Strategies; corporate expansion; integration i.e. vertical, backwards and forwards; horizontal; differentiation; Porter’s generic strategies Diversification, control of resources, distribution channels; Mintzberg’s strategies (deliberate, emergent) Strategic alliance; merger, acquisition; competitive strategies Value-based strategy; contingency strategy; maintaining/increasing market share, niche markets; market segmentation Adding value; workforce competence development; product portfolio; reconfiguration; gap analysis; profitability; portfolio analysis; benchmarking Criteria for judging options; feasibility studies; risk assessments
5. Understand how to create a strategic plan to meet business objectives Structure:
Mission statement /corporate vision, corporate values and principles, decisions from options; strategic goals / initiatives, strategy, roles, responsibilities, accountability; objectives and measures: SMARTER (specific, measurable, achievable, realistic, time-based, evaluate, reevaluate) objectives; execution plan, balanced scorecard, targets / interim targets / success metrics
Resource issues:
Resources e.g. financial, human; skills and competencies; needed v in place; availability. Stakeholder involvement and buy-in:
When and at what stage in the process; how will this take place; who will be involved; communications with stakeholders; gaining general organisational agreement to the process; feedback Tie departmental plans into strategic plan, align performance management and reward systems to strategy implementation.
Dissemination:
Communications with stakeholders how and when; dissemination and cascading processes; guidelines; timetable for implementation; Business Process Re-Engineering (BPR); action planning at departmental and operational levels
Monitoring:
Monitoring and evaluation control systems; responsibilities at strategic and operational levels; performance appraisal; focus and realignment; contingency planning; smart objectives and success criteria at all levels in the organisation; establish nature of monitoring e.g. tracking system and monitoring points; review meetings; role of celebration.
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7.4 Finance for Strategic Managers Aims
To develop financial skills required to understand and analyse financial information and to manage finance at a strategic level within a business. To understand the different business structures and financial reporting requirements. Unit Level 7 Unit Code Y/503/5095 GLH 60 Credit Value 15 Unit Grading Structure Pass Assessment Guidance To achieve this unit, learners must achieve the learning outcomes and meet the standards specified by the assessment criteria for the unit. Additional assessment guidance is provided on the ATHE sample assignment brief. Learners will need to demonstrate their full understanding of the use of financial information in business decision making. Learners can use their own experience or provide examples of businesses from their research to exemplify the points which are made. Learners will need to access and interpret published business accounts. Learning Outcomes Assessment Criteria The learner will: The learner can: 1. Understand the role of financial 1.1 Assess the need for financial information in information in business strategy business 1.2 Identify the risks related to financial and business decisions 1.3 Summarise financial information required in strategic business decision making 2. Be able to analyse published financial 2.1 Explain the purpose, structure and content statements for strategic decision of published accounts making purposes 2.2 Interpret financial information in published accounts 2.3 Calculate financial ratios from published accounts to support strategic business decisionmaking 3. Understand how businesses assess 3.1Differentiate between long and short-term and finance non-current assets, finance requirements for businesses investments and working capital 3.2 Compare the sources of long and shortterm finance for businesses 3.3 Assess the importance of managing cash flow and examine cash flow management techniques 3.4 Evaluate methods for appraising strategic capital or investment projects 4. Understand different ownership 4.1 Analyse the corporate governance, legal structures and how they influence and and regulatory requirements of different business measure financial performance ownership structures 4.2 Compare and contrast the accountability for and roles of owners and managers in decision making for different business ownership structures
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Indicative Content 1. Understand the role of financial information in business strategy Need for financial information Assessing finance requirements, obtaining finance, reporting to owners/ shareholders/ stakeholders, setting and meeting targets, appraising new projects, managing risk, internal versus external need Business risks Strategic and market, compliance, operational, risk modelling Financial information Profitability, cash flow, business value, financial stability, costs projections 2.
Be able to analyse published financial statements for strategic decision making purposes
Published accounts Purpose of published accounts – provide information to shareholders/stakeholders; users of published accounts – e.g. shareholders, potential shareholders, managers, employees, lenders, creditors, suppliers, customers, community, competitors; annual reports (including main financial statements, director’s report, audit report, notes to accounts etc.); main financial statements (statements of financial position, income statements, sources and statements of cash flows); internal management accounts versus published financial accounts; structure of statements - content, requirements; weaknesses of published accounts Interpretation Comparisons between years, comparisons between companies, industry comparisons, benchmarking, reasons for using ratios; difference between capital and revenue expenditure (definitions, decision making, treatment in financial statements) Ratios and how to interpret them Profitability, liquidity, efficiency, capital, investor, limitations of ratio analysis 3.
Understand how businesses assess and finance non-current assets, investments and working capital
Long and short-term finance Definitions of long-term and short-term, the importance of matching finance to project Sources of finance Range of sources, external and internal sources, role of markets and government, longterm and short-term, advantages and disadvantages of each source, implications of each source for financial statements e.g. gearing Cash flow management Cash flow forecasts, managing inventory, trade payables, trade receivables etc., budgetary control processes – budgets and variances – how to interpret them and investigate differences Investment appraisal techniques Net present value, discounted cash flows, internal rate of return, payback, accounting rate of return, cost benefit analysis, value for money
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4.
Understand different ownership structures and how they influence and measure financial performance
Ownership structures Sole trader, partnership, limited company, public limited company; other less-used forms: charities, limited by guarantee, co-operatives, public sector organisations; international equivalents, financial implications (share structures, availability of finance); legal requirements: company law, business law; accounting standards and corporate social responsibility Accountability and roles Stakeholder interests, control issues, shareholder versus sole trader, manager and owner, decision making interests, organisation strategy
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Research for Strategic Development Unit aims
The aim of this unit is to develop the knowledge, understanding and skills required to carry out research to meet the needs of strategic business management.
Unit level Unit code GLH Credit value Unit grading structure Assessment guidance
7 F/615/2678 60 15
Learning outcomes. The learner will: 1. Be able to formulate a research proposal relating to strategic business development
2. Be able to use different research methodologies to gather sufficient and valid data
Pass/Merit/Distinction To achieve this unit, learners must achieve the learning outcomes and meet the standards specified by the assessment criteria for the unit. Additional assessment guidance is provided on the ATHE sample assignment brief. In order to achieve this unit, learners must carry out a comprehensive piece of research on a chosen area relating to strategic business development. Learners must ensure that the research undertaken provides sufficient evidence to meet the Learning Outcomes and the standards required. Assessment criteria. The learner can: Pass Merit Distincion 1.1 Identify a valid area for research to support the strategic development of a business area 1.2 Explain the aim, scope and objectives for a chosen area of research in strategic business development 1.3 Formulate a research proposal 1.4 Establish success criteria for the achievement of the research proposal 1.5 Prepare a project plan that identifies key milestones and critical pathways 2.1 Review different literature sources to find those most appropriate for the chosen area of research 2.2 Use appropriate research methodologies to gather sufficient
1M1 Justify the research area chosen in order to achieve strategic business development
2M1 Justify the research methodologies chosen
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3. Be able to present research findings in an appropriate format for a target audience
3.1
3.2
3.3
4. Be able to evaluate own skills while undertaking research
4.1
4.2
information from primary and secondary sources to make valid conclusions Prepare a report that provides a comprehensive explanation of the purpose, methodologies, findings and recommendations Reference all sources using a recognised system Use the information collected to justify conclusions and recommendations Review own skills linked to own research using personal reflection and feedback Make recommendations on ways to improve own skills while undertaking research
3M1 Respond orally to questions on research findings
3D1 Analyse how the findings of the research can be used in an actual strategic business context
4M1 Produce a plan to improve own research skills
4D1 Implement the plan and assess the impact on own personal progress
Indicative Content 1. Be able to formulate a research proposal relating to strategic business development Research proposal:
Possible questions or hypothesis; different formats for research proposals; aims of research; scoping research projects; SMART objectives; terms of reference; rationale for selection; ethical issues
Information for strategic development of business area:
Examples may include analysis of organisation; structure, culture; planned growth strategy, marketing, operational issues; SWOT analysis, PEST analysis, analysis of customers and key stakeholders, competitor analysis
Success criteria:
Linked to purpose, objectives and outcome,
SMART Project planning:
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Key milestones, resources, risk assessment and management, critical pathways, contingency, accessing relevant information, project goals, schedule, communication systems, sensitivity of information gathered e.g. intellectual property, data protection
Link to Business Development:
Rationale for chosen research linked to stated business development needs
2. Be able to use different research methodologies to gather sufficient and valid data Research methodology:
Research methods e.g. survey, questionnaire including manual and electronic, observations; ways to test sufficiency, reliability and validity; definitions of data e.g. primary and secondary sources, qualitative and quantitative; literature search and review – its credibility, use and acceptance; ways to reference sources Size and sufficiency of data, reliability and validity of information gathered
3. Be able to present research findings in an appropriate format for a target audience Research findings:
Report format e.g. title, acknowledgements, contents page, introduction, summary of literature review, research methods used, findings, recommendations, references, bibliography, appendices e.g. questionnaires, surveys Referencing e.g. Harvard system
Analysis of data and application of statistical methods:
Qualitative interpretation of records, feedback, processes, categories, trends and relationships Quantitative e.g. mean, median, mode, variability e.g. range, standard deviation, application to business data, reliability of estimates from samples, trends and forecasting
Presentation of findings:
Methods for statistical data e.g. graphs, charts, statistical tables; chosen audience e.g. colleagues, Board members, external stakeholders; use of language in report appropriate to the chosen audience; power point presentations
4. Be able to evaluate own skills while undertaking research Methods of self-evaluation:
Personal reflection, constructive feedback from range of sources, evaluation forms, use of electronic equipment e.g. recording interviews, SWOT analysis. Balanced judgements
Improving own research skills:
Examples may include courses or qualifications, mentoring, coaching, conferences, secondments, application in future research Plan with specific actions, timescales, success criteria, resource implications, milestones. The plan is realistic but challenging and can be implemented. It addresses areas of weakness and builds on strengths
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7.1 Organisational Behaviour Aims To explore the importance of different forms of organisational
Unit Level Unit Code GLH Credit Value Unit Grading Structure Assessment Guidance
behaviours in organisational effectiveness and efficiency. To understand the importance of organisational structure, culture, motivation, creativity and leadership. 7 J/503/5092 60 15 Pass To achieve this unit, learners must achieve the learning outcomes and meet the standards specified by the assessment criteria for the unit. Additional assessment guidance is provided on the ATHE sample assignment brief. The learner will need to demonstrate their understanding of complex theories and concepts to meet the standards required for this unit. Learners should use actual examples from their own experience and research to support their work. The learner must also apply their understanding to specific organisations in order to achieve LO2 and LO4.
Learning Outcomes The learner will:
Assessment Criteria The learner can:
1. Understand effective leadership behaviour theory and practice
1.1 Evaluate leadership theories 1.2 Evaluate the impact of managerial styles on organisational effectiveness 1.3 Analyse how motivational theory can inform employee motivation 1.4 Analyse theories relating to work relationships and interaction 2.1 Analyse the characteristics of different organisational structures 2.2 Evaluate the importance of organisational
2. Understand how organisational structures and culture impact on the effectiveness of the organisation
3. Understand how the organisation can improve employee effectiveness to
culture theory in developing organisational effectiveness 2.3 Analyse the culture and structure of one organisation and evaluate how they impact on its effectiveness 3.1 Analyse how organisation can facilitate innovation and creativity 3.2 Assess the importance of learning in
respond to business opportunities
4. Understand organisational decision making
organisations 3.3 Evaluate the effectiveness of team working 3.4 Analyse the effective management of change in organisations 4.1 Analyse approaches to organisational decision making 4.2 Assess approaches to risk and uncertainty in decision making Evaluate the effectiveness of organisational 4.3 decisions in a specific organisation
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Indicative Content 1. Understand effective leadership behaviour theory and practice Leadership versus management Leadership theory Personal leadership traits, trait theories (e.g. Allport. Eysenck Cattell); ‘great man’ theory of leadership; contingency theories (e.g. Fiedler, cognitive resource theory); situational theories (e.g. Hersey and Blanchard, Vroom and Yetton); behavioural theories (e.g. role theory, managerial grid/leadership grid); participative theories (e.g. Lewin/Likert, transformational v transactional leadership, emotional intelligence Managerial styles Autocratic, democratic, paternalistic, laissez-fair Motivational theory Including Taylorism, Mayo, Maslow, Herzberg, McGregor, Broad theories (eg. temporal motivation theory), cognitive theory Working relationships and interaction Power, behavioural theories, social constructivism 2.
Understand how organisational structures and culture impact on the effectiveness of the organisation
Organisational structure Bureaucracies, stakeholders, re-engineered corporation, modular, networked and atomised organisations, virtual organisations, line, staff & functional structures, formal and informal organisations, designing organisation structure, centralisation and decentralisation Organisational culture Harrison - power, role, person, task cultures; Likert – autocratic, benevolent autocratic, consultative participative; Mintzberg – simple, machine bureaucracy, divisional, adhocracy; Pedlar et al – the learning organisation How structure and culture impact on effectiveness Leader as a change agent
3. Understand how the organisation can improve employee effectiveness to respond to business opportunities Innovation and creativity Organisational culture, integration / interaction of disciplines and teams, attitude to risk, rewards Organisational learning The learning, learning culture, knowledge capture and management, technical knowledge versus experiential knowledge, technology
Measuring performance Metrics, KPI, business scorecard, working in teams, group dynamics, teams versus groups, communications, collaboration and team decision making, motivation of groups
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Managing change Changes (reorganisation, restructuring, merger and acquisition, downsizing), communicating and managing change 4. Understand organisational decision making Decision making approaches Normative, prescriptive and descriptive approaches, economic or rational choice model, Simon’s bounded rationality model, incremental bargaining method, well managed model (Peters and Waterman), quantitative approaches Risk and uncertainty Role of stakeholders, attitudes to risk, risk identification and analysis, risk management planning, enterprise risk management Effectiveness of decision making Analysis and comparison of management decisions, evaluating decisions
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Personal Development for Leadership and Strategic Management Unit aims
Unit level Unit code GLH Credit value Unit grading structure Assessment guidance
Learning outcomes. The learner will: 1. Understand how knowledge and skills in leadership and strategic management support the creation and achievement of organisational vision and strategy
2. Understand how to develop and communicate organisational vision
This unit aims to help learners develop their own personal leadership and management skills in the context of the creation and achievement of organisational vision and strategic direction 7 J/615/2682 60 15 Pass Learners must achieve the learning outcomes and meet the standards specified by the assessment criteria for the unit. Additional assessment guidance is provided on the ATHE sample assignment brief. To achieve the standards for this unit, learners will be required to understand the knowledge and skills needed by leaders and managers, create a plan to achieve these qualities and be able to know how progress with the plan can be reviewed. Assessment criteria. The learner can: Pass Merit Distinction 1.1 Analyse the 1M1 Justify a ranking 1D1 Evaluate the knowledge and skills order of the leadership and in leadership and leadership and management strategic management knowledge and management which knowledge and skills skills required for are required to required to the successful support the creation successfully create achievement of and achievement of and achieve organisational organisational vision organisational operations versus and strategy strategy the creation and 1.2 Assess the achievement of contribution that organisational factors other than strategy knowledge and skills in leadership and strategic management make to the achievement of organisational vision and strategy 2.1 Analyse the factors 2M1 Evaluate the key which impact on the factors needed to gain creation of the commitment of organisational vision internal stakeholders 2.2 Assess the different when communicating approaches to the vision developing vision 2.3 Evaluate the key factors which impact on the communication of vision to external stakeholders
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3. Be able to manage development of own personal knowledge and skills in leadership and strategic management to support achievement of personal and organisational vision and strategy
4. Be able to reflect on the benefits of personal development in the achievement of personal growth and organisational vision and strategy
3.1 Review theories of leadership and management and assess the implications for your personal development 3.2 Carry out an audit of own personal leadership and management knowledge and skills which facilitate the creation and achievement of organisational vision and strategy 3.3 Set objectives to meet personal development needs in the context of strategic organisational needs 3.4 Prepare a personal development plan to develop own leadership and management skills and to support the creation of organisational vision and strategy 4.1 Assess the benefits of review and explain when this tool can be used in the achievement of personal and organisational strategy 4.2 Evaluate the sources of information needed to review progress with achieving personal development plans
3M1 Justify how the objectives and the plan selected for personal development support achievement of organisational vision and strategy
3D1 Carry out appropriate personal development activities to develop knowledge and skills identified in the audit
4D1 Review progress and outcomes of the personal development plan against the objectives set
Indicative Content 1. Understand how knowledge and skills in leadership and strategic management support the creation and achievement of organisational vision and strategy
Meaning of vision and strategy and their interrelationship Knowledge and skills required – visioning, describing possible futures with clarity, creating, giving direction, specificity, providing motivation, planning, communicating and listening at
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different levels, synthesizing, analysing, empathy, decision taker, link between vision and strategy, bringing about effective change, emotional intelligence, developing and leading high performance teams, consistency and reliability, delegation, dealing with conflict, gaining alignment. Contribution to organisational vision and strategy. Leadership and management knowledge and skills can be insufficient. Other factors which come into play include – financial situation, political uncertainty, availability of human and physical resources, and instability in the market. Ranking order produced from criteria leading to determination of high, medium and lesser importance. Similarities, difference and importance of knowledge and skills needed by strategic managers compared to operational managers.
2. Understand how to develop and communicate organisational vision
Factors impacting on organisational vision - history of the organisation, external and internal business environment, capacity of the organisation, anticipating potential barriers, skills and ambition of leadership team Approaches to developing vision - Two way, top down bottom up, timing, clarity, specificity, quality of information, presentation, dialogue, culture understanding and, feedback loops, involvement, Factors which impact on the communication of vision to internal and external stakeholders size of organisation, organisational development, culture and diversity, size, complexity and boldness of vision, communication systems, dissemination and cascading processes
3. Be able to manage development of own personal knowledge and skills in leadership and strategic management to support achievement of personal and organisational vision and strategy
Theories of leadership and management and their application - Transformational Leadership, Transactional Leadership, tri-dimensional leadership theory, charismatic leadership, situational leadership Audit of personal skills and knowledge linked to creation and achievement of organisational vision and strategy Objectives and personal development plan- specific, clear, challenging, achievable objectives linked to audit, directly related to plan with stated outcomes, tasks, time frames, deadlines, monitoring points. Plan could include formal learning leading to qualifications, training courses, work shadowing, and job rotation or mentoring. Plan could include informal learning e.g. reading texts, learning from successes and mistakes, using diagnostic tools e.g. Myers Briggs; development of emotional intelligence, ability to learn, systems thinking
4. Be able to reflect on the benefits of personal development in the achievement of personal growth and organisational vision and strategy
Benefits of review - reviewing performance, learning from experience, repeating what is good, dealing with weaknesses, acknowledging success. Review can be used frequently in order to improve e.g. at key milestones, at the outset and conclusion of tasks, at the end of a meeting, after a difficult problem. Sources of information – appraisal outcomes, 360-degree feedback systems, client feedback, staff/colleague/superiors’ feedback, personal observations, data, KPIs, business results.
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International Business Environment Unit aims
Unit level Unit code GLH Credit value Unit grading structure Assessment guidance
Learning outcomes. The learner will: 1. Be able to analyse the international business environment
2. Understand the impact of globalisation and international trade
3. Understand the international markets in which businesses operate
The unit will enable learners to explore the changing international business environment and develop knowledge and understanding of how organisations respond. 7 R/615/2684 60 15 Pass/Merit/Distinction To achieve this unit, learners must achieve the learning outcomes by meeting the standards specified by the assessment criteria for the unit. Additional assessment guidance is provided on the ATHE sample assignment brief. The learner will need to demonstrate their understanding of globalisation and international operations and its effect on business organisations. Learners should use actual examples from their own experience and research to support their work. Assessment criteria. The learner can: Pass Merit Distinction 1.1 Evaluate business 1M1 Assess the 1D1 Evaluate the techniques used to extent to which risks involved in analyse the working in the operating in an international international international business environment impacts environment environment on the success of an 1.2 Analyse the micro individual business and macro organisation environment of a specific business organisation which operates on an international level 2.1 Assess the impact 2M1 Explore the of globalisation and organisational international trade structures of on national businesses operating economies in global and 2.2 Assess the benefits, international markets opportunities and challenges of globalisation and international trade for a specific business organisation 3.1 Analyse the 3D1 Compare and implications for contrast businesses of the management cultural and approaches to regulatory diversity sustainability in
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in international markets 3.2 Evaluate the potential conflicts between corporate strategy and ethical, social and sustainable responsibilities 3.3 Assess the importance of corporate social responsibility and sustainability in supporting business success
business Organisations
Indicative Content 1. Be able to analyse the international business environment
Analysis techniques: Environmental analysis and diagnostics, Environment audit, Porter’s diamond (The Competitive Advantage of Nations - Porter), PESTLE, ‘Five Forces’ analysis.
Micro-environment: Stakeholders, Suppliers, Customers, Competitors, Market intermediaries.
Macro-environment: External climate, Economic conditions, Political opinion, Legal environment (national and international), Cultural environment, Resources, for example capital, people and natural, Technology.
International business environment: Culture, Corporate Social Responsibility, Politics, Environmental Issues, Globalisation.
2. Understand the impact of globalisation and international trade
History: Economic theory, Dependency theory, Non-western cultures, Maritime European empires, Industrialisation, Trade and empire, Bretton Wood, Development of communications, Information technology.
Extent of globalisation – Trade, labour movement, cultural exchange, technical development and exchange and capital
Effects of globalisation – Effects on markets, business change, capital, jobs and outsourcing, cultural dominance, natural resources, conflict; debates: benefits and challenges of globalisation, advocates and critics
Operations: International business conduct, Competition in different markets, International brand development, Protection of IP, Trade partnerships, Politics and regulation, Security, Ethics.
3. Understand the international markets in which businesses operate
Sustainability
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Moral and Ethical issues: Organisation purpose, Nature of business ethics, Corporate responsibility, Social responsibility, Corporate accountability, Corporate governance, Cultural conflict (For example: nature of bribes and rewards), Different economic models, Different ethical frameworks (theories: deontological and utilitarianism), Hofestede, Hall (monochronic and polychronic cultures).
Conflicts: Current conflicts and issues should be examined Examples include: climate change and environmentalism, anti-globalisation and social responsibility, ‘Peak Oil’, greater insecurity, relationships with government, technological change and privacy concerns, social media, intellectual property issues
Legislation: UK, European, global and other national legislation and guidance; global agreements on carbon; legislation on pollution; agreements on issues affecting specific industries, for example fishing agreements; institutions; codes of practice and guidelinesfrom international (e.g. OECD, ISGN), and industry (e.g. ISAR) bodies, reporting mechanisms (audit standards)
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Developing Organisational Vision and Strategic Direction Unit aims
Unit level Unit code GLH Credit value Unit grading structure Assessment guidance
Learning outcomes. The learner will: 1. Understand how to develop an organisational vision and strategic direction
2. Understand how to communicate the vision and strategic direction to stakeholders
To enable learners to improve their knowledge and understanding of how organisations develop vision and strategic direction. The unit may be of particular interest for learners aiming for leadership roles in either private or public sector organisations. 7 D/615/2686 60 15 Pass/Merit/Distinction To achieve this unit, learners must meet the learning outcomes at the standards specified by the assessment criteria for the unit. Additional assessment guidance is provided on the ATHE sample assignment brief. Learners need to show that they understand the importance of a vision for an organisation and how this impacts on the strategic direction. In their work learners should use their own experience in organisations and/or as consumers. Assessment criteria. The learner can: Pass Merit Distinction 1.1 Explain the 1M1 Create a vision 1D1 Determine and processes involved for a named explain the strategic in creating a shared organisation and direction for a named vision for an explain the reasons organisation organisation behind your thinking 1.2 Analyse factors that impact on organisations and their vision 1.3 Analyse the relationship between vision, strategic direction and strategic planning 2.1 Analyse methods 2D1 Produce a plan of communicating to communicate an organisation’s vision and strategic vision and direction to internal strategic direction and external to stakeholders stakeholders 2.2 Assess how to build support for the organisation’s vision and strategic direction 2.3 Assess the challenges and pressures faced by organisations when communication
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vision and strategic direction to stakeholders 3.1 Analyse how
3M1 Evaluate the
3D1 Analyse how to
leadership
ways in which an
embed organisational
behaviour promotes
organisation might
vision in an
the achievement of
respond to negative
Organisation
3. Understand how to implement organisational vision and strategic direction
organisational vision and strategic direction 3.2 Outline the process for implementing the vision and strategic direction for an organisation
factors affecting the implementation of the vision and strategic direction
Indicative Content 1. Understand how to develop an organisational vision and strategic direction
Processes involved in creating a vision: Written vision and mission statements, Values and culture, Language, Purpose, Good practice.
Factors that impact on organisations and their vision: PESTLE – Political, Economic, Social, Technological, Legal and Environmental, Government Policy, Legal Requirements, Regulatory and Accountability issues, Best practice and industry trends, Global factors, Data gathering.
Relationships between vision, strategic direction and strategic planning: Strategic goals, Evaluation of key factors, Criteria for analysis, Knowledge to set strategic direction, Strategic planning techniques.
2. Understand how to communicate the vision and strategic direction to stakeholders
Communication methods: Understanding audiences, Methods, for example, presentations, formats, media etc., Attitudes – enthusiasm, stressing importance, gaining agreement and acceptance, corporate style, etc. Communication systems, External support and expertise, Embedding vision,
Stakeholders: Identification of different organisations and their structure, Identification of key stakeholders, for example, employees, managers service users, customers, funding bodies, local and national Government, Stakeholder groups needs and wants, Stakeholder roles in organisations, Stakeholder mapping and methods of engaging stakeholders.
Communicating with external stakeholders: Promoting the vision, Benefits analysis and promotion, Format and language to promote, Feedback mechanisms, Cost / Benefit analysis.
Building support: Communicating clearly and effectively, Equality issues, challenging behaviours, Language, Attitudes that do not support organisational vision, Negotiation skills, Changing systems, Procedures, Models of change.
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3. Understand how to implement organisational vision and strategic direction
Leadership behaviour; Leadership and management styles, Managing the change, acting as a role model to promote and embed the vision, challenging behaviours, attitudes, values etc. that do not support the vision, Importance of personal credibility and belief.
Embedding the vision; Models for approaching change in the organisation e.g. top down, bottom up, consultative styles etc. Identification of procedures, activities, values, language not consistent with vision and replacing them, Organisational culture.
Setting strategic direction; Links between vision and objectives, Strategic objectives – format, content, writing objectives, etc., Role of stakeholders.
Strategic planning process; Format and contents of strategic plan, Development of strategic plan, Resource allocations, Targets, Criteria for success.
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International Finance Unit aims
Unit level Unit code GLH Credit value Unit grading structure Assessment guidance
Learning outcomes. The learner will: 1. Understand the causes and consequences of the evolution of international accounting standards
2. Be able to analyse the potential impacts of the international financial
To enable learners to gain an understanding of the role of an international corporate financial manager. The unit will allow learners to consider the importance of International Accounting Standards and the international financial environment for decision making within businesses and organisations. Particular attention is paid to analysing the role of international financial markets in creating opportunities and risks for organisations, especially those operating in a multinational context. Learners will gain experience in assessing strategic options and making appropriate recommendations. 7 K/615/2688 60 15 Pass/Merit/Distinction To achieve this unit, learners must meet the learning outcomes at the standards specified by the assessment criteria for the unit. Additional assessment guidance is provided on the ATHE sample assignment brief. In this unit learners can approach all learning outcomes from a theoretical perspective, using appropriate examples to illustrate their work. Assessment criteria. The learner can:
Pass
Merit
1.1 Describe and assess the objectives of developing International Accounting Standards 1.2 Identify the relevant International Accounting Standards to be applied to specified financial situations 1.3 Discuss the effect on financial statements of the application of specified International Accounting Standards 2.1 Examine the key features of international finance and the major institutions involved in the international
1M1 Evaluate the implications of the introduction of specified International Accounting Standards for a named organisation
2M1 Evaluate foreign exchange management using forward contracts, currency futures,
Distinction
2D1 Evaluate interest rate management using swaps, forward rate agreement and guarantees and interest rate options
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environment on decision making 2.2
2.3
3. Understand capital requirements and working capital management in an international context
3.1
3.2
4. Be able to assess the key issues and approaches to international financial management
4.1
4.2
financial environment Assess the contribution of international financial markets and financial instruments as sources of finance Analyse the exchange rate market and the importance of exchange rates to an organisation Determine capital requirements in the context of a multinational enterprise Evaluate the contribution of financial theory in developing capital structures in the context of a multinational enterprise Analyse the microenvironmental and macroenvironmental factors influencing international financial management decision making Analyse international merger, acquisition and investment policies and their relevance for international financial management
currency options and money market hedge
3M1 Assess the planning, monitoring and management of short term assets for a named multinational enterprise
3D1 Evaluate working capital management strategies and their consequences for a named multinational enterprise
4M1 Assess the influence of foreign government fiscal and monetary policies for global financial flows
4D1 Evaluate the benefits and risks of cross-border mergers and acquisitions for international financial management
Indicative Content
1. Understand the causes and consequences of the evolution of international accounting standards Accounting Standards: Principles, concepts and conventions, going concern, matching, consistency, materiality, prudence, substance over form, aggregation and offsetting,
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Comparative information, Importance of true and fair view, Use of business entity, historical cost and revaluation as features of a recording system. International Accounting Standards (IAS): IAS 1 – Presentation of financial statements, IAS 2 – Inventories, IAS 7 – Statement of cash flows, IAS 8 – Accounting policies, IAS 10 – Events after the reporting period, IAS 16 – Property, plant and equipment, IAS 18 – Revenue, IAS 23 – Borrowing costs, IAS 33 – Earnings per share, IAS 36 – Impairment of assets, IAS 37 – Provisions, contingent liabilities and contingent assets, IAS 38 – Intangible assets. Impact on financial statements: Income statement, Statement of financial position, Cash flow statement, Statement of changes in equity.
2. Be able to analyse the potential impacts of the international financial environment on decision making Features of international finance: Currencies, Accounting rules, Stakeholders, Legal framework, Taxation, Regulatory framework, Political risk, Intellectual property rights. International monetary institutions: International Monetary Fund, World Bank, Bank for International Settlements, International stock exchanges, International credit-rating agencies. International sources of finance: Financial instruments and international trade – bills of exchange, forfaiting, letters of credit, factoring, invoice discounting, securitisation, options, futures and swaps (see below), Eurocurrency markets, Euro-paper and Euro-note markets, Eurobond markets, Sharia-bond markets, Futures and options markets, International equity markets. The foreign exchange market: The importance of exchange rates, Floating exchange rate systems, Fixed exchange rate systems, Adjustable-peg exchange rate systems, Common currencies, International clearing systems, Purchasing power parity, Foreign currency futures versus forward contracts, Forwards and futures in commodities, Speculative positions in forward contracts, Arbitrage and the determination of spot and future rates, Exchange rate forecasting, Foreign currency swaps, Foreign currency options. Techniques for dealing with global exchange rate and interest rate risks: Internal and external hedging techniques, Hedging FOREX transactions exposure, operating exposure and its management, Difficulties in choosing between fixed and floating rates of interest, Interest yield curve and its role in interest rate exposure management, Potential exchange rate risk – scenario analysis.
3. Understand capital requirements and working capital management in an international context Role of multinationals within the international business and financial environment; Types and objectives of multinationals, Constraints – environmental, regulatory and ethical, Benefits
gained – economies of scale, sources of lower production costs, market share, diversification, new skills and experience, Risk exposures – operational restrictions, discriminatory practices, loss of assets, confiscation, expropriation, nationalisation, trade related disputes, corruption, labour problems.
Investment Decisions; Investment appraisal processes, mutually exclusive projects and capital rationing, Real options including abandonment options, Management of risk, Decision processes – certainty equivalents and sensitivity analysis, Portfolio theory, Systematic v unsystematic risk.
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Working Capital Management; Importance of the working capital cycle, Use of cash, Cash budgeting and control, Treasury management practices, Stock, cash and credit controls, Short term investment opportunities, Working capital management strategies. Planning, monitoring and managing short term assets; Features of international trade financing – accounts receivable financing, cross border factoring, acceptances etc., International issues of cash management – reasons for holding cash, cash pooling, interest rate influences, managing blocked funds, Criteria for obtaining short term funds, Influences of foreign currency stability.
4. Be able to assess the key issues and approaches to international financial management International financial management; Cross-listing on foreign stock exchanges, International liquidity and market integration, Transfer pricing, International taxation, International dividend policies, Off-shore banking and financial centres. Government monetary and fiscal policies and international financial management; Monetary policies, Fiscal policies, Financial interdependence, Growth of global financial flows, Impacts of global financial flows, Control of global financial flows, Economic unions. Methods of internationalisation and international financial management; Export-based methods – direct and indirect exporting, Non-export-based methods – licencing and franchising, Joint ventures and alliances, Cross border mergers and acquisitions.
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Quantitative Methods Unit aims
Unit level Unit code GLH Credit value Unit grading structure Assessment guidance
Learning outcomes. The learner will: 1. Understand the types of data which can be used by organisations to monitor and improve their performance
2. Be able to analyse and evaluate raw business data to inform decision taking
3. Be able to apply a range of quantitative methods to support effective business decision taking
This unit will enable learners to further develop understanding and skills in the application of quantitative methods appropriate to support decision-taking in organisations. 7 K/615/2691 60 15 Pass/Merit/Distinction To achieve this unit, learners must achieve the learning outcomes and meet the standards specified by the assessment criteria for the unit. Additional assessment guidance is provided on the ATHE sample assignment brief. The learner will need to demonstrate a full understanding of quantitative methods and they will need to be applied in context to business decision-taking. Assessment criteria. The learner can: Pass Merit Distinction 1.1 Evaluate the different types of data which can be gathered by organisations to monitor and improve their performance 1.2 Distinguish between alternative sampling methods and measurement scales 2.1 Analyse and evaluate quantitative raw business data from a range of examples using appropriate
2M1 Evaluate the differences in application between descriptive statistics, inferential statistics and measuring
quantitative methods 2.2 Analyse and evaluate qualitative business data using a range of examples and appropriate quantitative methods 3.1 Apply a range of quantitative
association
methods for business decision taking for quality, inventory and
3M1 Justify and evaluate the application of appropriate quantitative methods
2D1 Evaluate the differences in application between methods of descriptive, exploratory and confirmatory analysis of business data to support decision taking
3D1 Make judgements and recommendations for business decisions based on the
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4. Be able to report on data and communicate findings to inform decision taking
capacity management 4.1 Explain different ways of summarising and presenting a set of business statistics 4.2 Construct appropriate tables and charts with a commentary, utilising summary data
used by specific organisations 4M1 Justify the rationale for choosing the methods for communicating the data
application of quantitative methods 4D1 Evaluate the use of different types of charts and tables for communicating given variables in order to inform decision taking
Indicative Content 1. Understand the types of quantitative data which can be used by organisations to monitor and improve their performance
The nature of data and types of data such as qualitative and quantitative, and of information, how data can be turned into information and information used to inform decision making. Interpreting data from a variety of sources using different methods of analysis with advantages, disadvantages and limitations of each Use and comparison of sampling techniques including random sampling with and without replacement; stratified sampling; cluster sampling; systematic sampling and other types of sampling techniques
2. Be able to analyse and evaluate raw business data to inform decision taking
Quantitative methods that are used to analyse and evaluate data Descriptive statistics: o Measures of central tendency (e.g. mean, median) o Measures of variability (e.g. range, standard deviation) o Application to business data (e.g. finding average earnings, measuring) o Variability in business processes such as queuing times and customer arrival rates
Inferential statistics, the difference between sample and population and reliability of estimates from samples
Measuring association: o Use of scatter plots, correlation and regression analysis (linear), simple forecasting o Business applications such as the association between output and cost, advertising and sales o Evaluating use of software such as Excel and SPSS to perform raw data analysis
3. Be able to apply a range of quantitative methods to support effective business decision taking
Probability distributions and application to business decisions, Normal distribution (e.g. weights and measures regulations and statistical process control), Poisson distribution (e.g. customer arrival rates) and binomial distribution (e.g. inspection sampling), Inference (e.g. margins of error and confidence limits) inventory management including optimum inventory and economic order quantities capacity management and factors effecting capacity and maximum output rates, forecast capacity and the use of decision trees
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The issue of variability in business processes (e.g. arrival rates of customers and time taken to deal with customers), and how this leads to a trade-off between waiting time and process utilisation Quantitative methods used to analyse trends over time such as time series analysis and index numbers and how they support planning and decision making
4. Be able to report on data and communicate findings to support decision taking
Identifying data: numerical, both discrete and continuous; Categorical data -nominal or ordinal Levels of measurement - nominal, ordinal, interval, ratio
Centre, and spread of data, ordering, frequency and scatter plots, ranking. Levels of measurement - nominal, ordinal, interval, ratio Time series analysis, indices, histograms, charts, tables, bar and line graphs and their use in representing and interpreting data Choosing the most effective ways analysing data and of communicating the results of the analysis and information for decision taking using tables and charts with appropriate limitations conclusions and recommendations given Utilising Software for producing charts/tables
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